In a strategic move, a savvy whale has continued to cash in on its POPCAT holdings, selling an additional 3.13 million POPCAT tokens worth $3.65 million at a price of $1.16 over the last 24 hours.
This latest sale brings the whale’s total profits from POPCAT to $3.37 million in just one month.
Not new to smart trading, the whale had previously made $1.47 million from POPCAT sales. Just two days ago, it sold 2.66 million POPCAT for $3.61 million at $1.36 per token, retaining 3.45 million POPCAT valued at $4.48 million, with a profit of around $3.96 million.
This smart whale sold another 3.13M $POPCAT($3.65M) at $1.16 in the past 24 hours, making $3.37M on $POPCAT in just one month!
Previously, this whale had already made $1.47M on $POPCAT!
Excited to see his next trade on $POPCAT!https://t.co/S4NP14IuHC pic.twitter.com/Z4Ht2ko7hT
— Lookonchain (@lookonchain) October 10, 2024
Whale Shifts Attention From Solana Memecoin Market Space
Now, it appears that the whale’s focus may be shifting away from Solana’s memecoin market. After the most recent POPCAT sale, the whale bridged $3.65 million USDC to Ethereum and used the funds to purchase 6.56 million SPX tokens at an average price of $0.56, totaling $3.9 million.
This smart whale who made $4.84M on $POPCAT bridged 3.65M $USDC to #Ethereum and bought 6.56M $SPX($3.9M) at an average price of $0.56!
Address:
0x00264aeC01188DF9eaeF04F04Dd9F62a4fa844B1
0xa54d176707D72e22163630Ffb82342559e00b547https://t.co/HPIpN8u1PZ pic.twitter.com/vdPF1GKveQ
— Lookonchain (@lookonchain) October 10, 2024
This change in strategy raises questions about the whale’s future moves, especially as it reduces exposure to Solana’s memecoin and increases investments in Ethereum’s SPX token. Whether this indicates a broader shift in the whale’s investment approach or a strategic reallocation remains to be seen. What is clear, though, is the whale’s ability to profit handsomely from timely trades, capitalizing on the volatility of memecoins.
As attention turns toward SPX, investors may want to keep an eye on the whale’s next steps in the ever-shifting memecoin landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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Image Source: pramotephotostock/123RF // Image Effects by Colorcinch